A High-Yielding Energy Stock With 70% Upside

Penn West Petroleum, which offers an enticing 5% dividend yield, is poised to unlock significant value.

After two rocky years, and a stock price that has fallen by more than half in that time, Penn West Petroleum (ticker: PWE), one of the largest oil and gas exploration & production operators in Canada, is getting a fresh start.

In May, a board shake-up resulted in the naming of two longtime industry veterans, Rick George and Allan Markin, as chairman and co-vice chairman, respectively. The move was followed in June, with the retirement of CEO Murray Nunns, who had been in the job for eight years, and the appointment of...